Coastal Bridge Advisors LLC Purchases 1,463 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Coastal Bridge Advisors LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,202 shares of the company’s stock after acquiring an additional 1,463 shares during the period. PepsiCo comprises about 0.7% of Coastal Bridge Advisors LLC’s portfolio, making the stock its 27th biggest position. Coastal Bridge Advisors LLC’s holdings in PepsiCo were worth $3,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Paragon Wealth Strategies LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $30,000. Cowen Prime Advisors LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $34,000. Twin Lakes Capital Management LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $48,000. Wagner Wealth Management LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at about $53,000. Finally, Baron Financial Group LLC lifted its stake in shares of PepsiCo by 54.0% in the 1st quarter. Baron Financial Group LLC now owns 385 shares of the company’s stock valued at $54,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 70.55% of the company’s stock.

Shares of PEP stock traded up $1.03 during trading on Wednesday, hitting $156.18. The company’s stock had a trading volume of 148,771 shares, compared to its average volume of 4,954,938. The company has a market cap of $215.86 billion, a PE ratio of 26.25, a P/E/G ratio of 2.96 and a beta of 0.60. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47. The business has a fifty day moving average of $155.51 and a 200-day moving average of $147.54. PepsiCo, Inc. has a 52 week low of $128.32 and a 52 week high of $159.63.

PepsiCo (NASDAQ:PEP) last released its earnings results on Monday, July 12th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.19. The company had revenue of $19.22 billion during the quarter, compared to analyst estimates of $17.95 billion. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. PepsiCo’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 6.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, September 2nd. PepsiCo’s dividend payout ratio (DPR) is 77.90%.

In other PepsiCo news, SVP Marie T. Gallagher sold 7,409 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $155.70, for a total transaction of $1,153,581.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

PEP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on PepsiCo from $149.00 to $154.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. Wells Fargo & Company upped their price target on PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 14th. Morgan Stanley upped their price target on PepsiCo from $165.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 14th. Credit Suisse Group downgraded PepsiCo from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $155.00 to $157.00 in a research note on Wednesday, July 14th. Finally, Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of PepsiCo in a research note on Friday, July 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $159.58.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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